Common questions

Is it a good idea to take a loan for MBA?

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Is it a good idea to take a loan for MBA?

Considering the ever-rising MBA fees in top b-schools, it is clear that taking loans to pursue this course needs careful planning. For instance, you take a loan of Rs. 10 lakh for your MBA and considering the average CTC offered in a b-school at the time of placements, it is anywhere between Rs. 8 lakhs to Rs.

Is it worth taking loan for MBA abroad?

If you are sure of taking up a job abroad, rather, managing to get yourself a job, then it makes sense to even take a loan to go abroad for an MBA. In all likelihood, you’ll repay the loan within a year. If you’re from a middle-rung school, you’re as good as an MBA from a mid-rung Indian B-school.

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How much loan I get from IIM?

An IIM student can opt for a maximum loan amount ranging from Rs. 20 lakh to Rs. 30 lakh.

How do people afford MBA abroad?

How Will I Fund My MBA Abroad?

  1. The four best ways to finance your MBA.
  2. Use your savings to fund your MBA.
  3. Explore sponsorships with companies that pay for an MBA.
  4. Use scholarships and fellowships to pay for business school.
  5. Let MBA loans supplement your tuition costs.
  6. More MBA programs, more funding options.

How do you get fully funded for MBA abroad?

List Of Scholarships To Study MBA Abroad

  1. 1 Oxford Pershing Square Scholarship by Pershing Square Foundation.
  2. 2 Global Study Awards.
  3. 3 Central Sector Scheme of National Overseas Scholarship.
  4. 4 University of North Carolina Kenan-Flagler MBA.
  5. 5 The Financial Sumo Educational Scholarship Program.
  6. 6 Go Clean Scholarship.

What are the disadvantages of education loan?

Disadvantage of Education loan: The Education Loan has a floating Rate of Interest with a variable index which changes with time. Depending on banks and type of loans that one is taking, the interest rate may change. Loans below 4 lakhs require no guarantor but for the ones above this amount a guarantor is mandatory.

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Can I get 20 lakhs education loan?

Collateral Required for Education Loan According to RBI, the maximum amount eligible for a study loan for courses in India is Rs. 10 lakhs while for studying abroad, it is Rs. 20 lakhs.

How can I do less money in MBA?

How to Finance Your MBA – Especially When You Don’t Have Any Money

  1. Non-cosigner Loans Given by the MBA Program.
  2. Non-collateral Education Loans by Indian Banks.
  3. Non-collateral Education Loans by Non-Banks/Specialized Institutes.
  4. Self-finance.
  5. Soft Loans.
  6. Scholarships.
  7. Collateral Loans in India.